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Making the decision to file (or not to file) bankruptcy is a big one. While getting a fresh financial start through Chapter 7 or Chapter 13 bankruptcy can be a lifesaver for some people, it's not the best solution for others.
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What is the Downside of Filing for Bankruptcy?
The intent of bankruptcy is to provide people with a fresh financial start. For many people, bankruptcy does just that. But filing for bankruptcy is not something to be taken lightly. Be sure you understand the negative consequences of filing for bankruptcy before you take the plunge.
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Part of the process for deciding whether or not to file for bankruptcy includes looking at your alternatives. Depending on the state of your finances, the type of your debts, and your financial goals, a nonbankruptcy alternative may be better in your situation. Some possible alternatives to declaring bankruptcy if you are in debt include the following.
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How Will Filing Bankruptcy Affect My Children?
Learn how bankruptcy may affect your children, including whether they'll lose property, be able to get college loans, continue receiving child support payments, and more.
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Should Senior Citizens File Bankruptcy?
When considering bankruptcy, seniors and retirees should weigh their options carefully. While Chapter 7 or Chapter 13 bankruptcy can offer seniors a way to handle debt trouble, it's important to understand what bankruptcy can and cannot do. For many seniors, certain issues crop up relating to home ownership,
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Why So Many Seniors Face Bankruptcy
While retirement used to be the promised land for senior citizens in America, it may not be a dream come true for everyone. According to financial...
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Will Bankruptcy Affect my Employment?
If you have filed or are considering filing for bankruptcy, you may be concerned about what effect it will have on your job. Federal law protects employees from discrimination based on bankruptcy. However, some applicants are not protected from bankruptcy discrimination in hiring. Discrimination in
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How much debt do you have to have to file bankruptcy?
There is no minimum amount of debt you must have in order to file for bankruptcy relief. While the amount of your debt is an important factor to consider, there are other more important factors to take into account in determining if a bankruptcy filing is in your best interest. These include:
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Can I Join the Military If I File for Bankruptcy?
Depending on the branch of the military you wish to join and your particular circumstances, you may need to meet certain financial eligibility requirements before you can enlist in the armed forces. In most cases, a bankruptcy filing will not automatically prohibit you from joining the military. But
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Filing for Bankruptcy While Unemployed
If you are unemployed, it may affect what type of bankruptcy you file and when you should file your case. Here are some factors to consider if you've lost your job and you're planning to file for bankruptcy. Chapter 13 Bankruptcy: Probably Not an Option When you file for Chapter 13 bankruptcy, you must
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Bankruptcy for Military Personnel: Any Differences?
For the most part, the bankruptcy rules and process is the same for military personnel, veterans, and non-military members of society. However, being a veteran or on active duty in the miltary does confer special treatment in a few areas of bankruptcy.
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What Happens to Mortgages in Bankruptcy
A major concern for most homeowners who are contemplating bankruptcy is how bankruptcy will affect their mortgage. The good news is that your mortgage company cannot raise your interest rate or change other terms of your loan to punish you for filing bankruptcy. But there are several other things you should know about how fi
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Can You Stop IRS Wage Garnishment by Filing for Bankruptcy?
If the IRS has garnished your wages for unpaid taxes, filing for bankruptcy can give you some relief. It's only temporary, however: Bankruptcy doesn't wipe out most tax debts.
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The New Bankruptcy Will It Work for You?
Is bankruptcy the right solution for your overwhelming debts? Pick the best strategies for your situation with the information and practical suggestions in The New Bankruptcy.
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Solve Your Money Troubles: Debt, Credit & Bankruptcy
Get out of debt and solve your money troubles with this complete guide to repairing your credit and regaining financial freedom.